Bitcoin Wave Analysis is correction nearing its end?
Bitcoin continues to operate in a downtrend since it made a new high towards ~$32000; price then came down in a most likely 5 wave structure breaking just below $30000 support area before bouncing back up in a Corrective B wave structure. Price has since been in a C wave correction although price has been quite choppy and corrective evident in the 3rd wave which was 3 waves; likely meaning the C wave is an ending diagonal structure and we can expect this final 5th wave to be an ABC structure also.
Where can we target price projections; as written on chart the $28100-$28200 will be a strong area of confluence where price can likely show some strength and support. If we look into past price history there is a strong area of importance in the Purple box where price shot up in April after breaking that area. This makes this area of support/resistance a great area for buyers to come in and for a completion of this correction.
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Where can we target price projections; as written on chart the $28100-$28200 will be a strong area of confluence where price can likely show some strength and support. If we look into past price history there is a strong area of importance in the Purple box where price shot up in April after breaking that area. This makes this area of support/resistance a great area for buyers to come in and for a completion of this correction.
Please like and follow for more!!
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